Hellweg and Baywa Bau & Garten enter into self-administered insolvency 

German DIY store operator Hellweg and its subsidiary sales division, Baywa Bau & Garten, have applied to the Essen Local Court for insolvency proceedings under self-administration. The court has granted both applications. The company has announced that the management will retain full authority to act and issue instructions. There are two separate proceedings: one involving Baywa Bau- & Gartenmärkte GmbH & Co. KG and one involving Hellweg Die Profi-Bau- & Gartenmärkte GmbH & Co. KG.

After the insolvency applications had been filed, Markant – to which Hellweg is affiliated – informed the company’s suppliers that morning that, as of today, the DIY store operator is no longer covered by its trade credit insurance. Markant’s credit insurer, Allianz Trade, confirmed to DIY International upon enquiry that it would, of course, honour its commitment and settle all insured…